BEL shares drop 1.0% as Sensex falls

BEL shares drop 1.0% as Sensex falls
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Synopsis

A total of 301,091 shares changed hands on the counter till 11:28AM (IST)

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Nagaraj Shetti, Technical Research Analyst at HDFC Securities, believes Monday's pattern could be considered as a High Wave, which reflects high volatility in the market at swing highs.
Shares of Bharat Electronics Ltd. traded 1.0 per cent down at Rs 99.4 at 11:28AM (IST) on Wednesday, even as BSE benchmark Sensex dropped 428.02 points to 60866.18. The scrip had closed at Rs 100.4 in the previous session.

The stock quoted a 52-week high and 52-week low of Rs 115.0 and Rs 62.29, respectively.

As per BSE data, total traded volume on the counter till 11:28AM (IST) stood at 11:28AM shares with turnover at Rs 3.0 crore.

At the prevailing price, the stock trades at 26.52 times its trailing 12-month EPS of Rs 3.75 per share and 4.18 times its price-to-book value, BSE data showed.

A higher P/E ratio shows investors are willing to pay a higher share price today because of growth expectations in the future. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

The Beta value of the stock, which measures its volatility in relation to the broader market, stood at 1.44.

Shareholding Details
Promoters held 51.14 per cent stake in the company as of 30-Sep-2022, while FIIs owned 15.99 per cent and DIIs 25.58 per cent.
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